UBS to Refund 90% of Credit Suisse Investors in Greensill Collapse with $0.9 Billion Provision

Jun 17, 2024, 07:11 AM

UBS has announced plans to refund investors in Credit Suisse funds linked to the collapse of Greensill Capital. The Swiss bank is setting aside a provision of approximately $0.9 billion to address this issue. UBS is offering to repay 90% of the investments made by former Credit Suisse clients affected by the Greensill implosion. This move aims to resolve issues stemming from Credit Suisse's collapse, which involved $10 billion in trapped assets and impacted 1,200 investors. UBS aims to repay much of the $2.5 billion still stuck in investment funds tied to Greensill Capital. The provision will be recorded in the second quarter of 2024.